S. 269SS: Cash Transactions with Sister-in-Law & Nephew not amounts to Loan

Sri Jagmohan Sharma Vs. JCIT (ITAT Kolkata) The transactions between these family members are neither loans nor deposit and purely a family system and purely a family requirement to help each other in the needy hours, for example medical help, education help and expenses to run the family. That is, one member of the family helps to other member in the needy hours, such as during medical treatment, education, marriage or some other family needs. Therefore, respectfully following the judgment of the Coordinate Bench, we are of the view that transaction between Sister-in-law and Nephew (family me...